Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show the supply of land, population size, and real GDP for these two economies from 2020 to 2023. Complete the last column of the following two tables by calculating real GDP per capita for the two economies. Tralfamadore Land Real GDP Real GDP per Capita Year (Hectares) Population (Dollars) (Dollars) 2020 20,000 500 4,500 2021 20,000 1,000 10,000 2022 20,000 1,500 16,500 2023 20,000 2,000 24,000
Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show the supply of land, population size, and real GDP for these two economies from 2020 to 2023. Complete the last column of the following two tables by calculating real GDP per capita for the two economies. Tralfamadore Land Real GDP Real GDP per Capita Year (Hectares) Population (Dollars) (Dollars) 2020 20,000 500 4,500 2021 20,000 1,000 10,000 2022 20,000 1,500 16,500 2023 20,000 2,000 24,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Consider the economies of Tralfamadore and Sporon, both of which produce agricultural products using only land and labour. The following tables show
the supply of land, population size, and real GDP for these two economies from 2020 to 2023.
Complete the last column of the following two tables by calculating real GDP per capita for the two economies.
Tralfamadore
Land
Real GDP
(Dollars)
Real GDP per Capita
(Dollars)
Year (Hectares)
Population
2020
20,000
500
4,500
2021
20,000
1,000
10,000
2022
20,000
1,500
16,500
2023
20,000
2,000
24,000
Sporon
Land
Real GDP
Real GDP per Capita
(Dollars)
Year
(Hectares) Population (Dollars)
2020
20,000
1,000
15,000
2021
20,000
2,000
28,000
2022
20,000
3,000
36,000
2023
20,000
4,000
40,000
Rapid population growth tends to threaten economic growth in economies with
higher or lower
land-labour ratios.

Transcribed Image Text:2022
20,000
3,000
36,000
2023
20,000
4,000
40,000
Rapid population growth tends to threaten economic growth in economies with
land-labour ratios.
Which of the following is a correct description of the effect of population growth on economic growth in Tralfamadore from 2020 to 2023?
O Real GDP per capita rose from 2020 to 2023 as population increased.
O Real GDP per capita fell initially but eventually rose as population continued to expand.
O Real GDP per capita fell from 2020 to 2023 as population increased.
O Real GDP per capita rose initially but eventually fell as population continued to expand.
The English economist Thomas Malthus made an incorrect prediction regarding long-run living standards. His error can largely be traced to his not
recognizing the importance of natural resources or technological changes
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